Private Capital Advisors Inc. Acquires New Stake in Symantec Corporation (NASDAQ:SYMC)
Private Capital Advisors Inc. acquired a new stake in Symantec Corporation (NASDAQ:SYMC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,899 shares of the technology company’s stock, valued at approximately $364,000.
A number of other hedge funds and other institutional investors have also modified their holdings of SYMC. Advisory Services Network LLC acquired a new position in shares of Symantec Corporation during the first quarter valued at $142,000. Johnson Financial Group Inc. raised its position in shares of Symantec Corporation by 8.0% in the first quarter. Johnson Financial Group Inc. now owns 5,271 shares of the technology company’s stock valued at $162,000 after buying an additional 390 shares during the last quarter. IFP Advisors Inc raised its position in shares of Symantec Corporation by 0.3% in the first quarter. IFP Advisors Inc now owns 6,283 shares of the technology company’s stock valued at $193,000 after buying an additional 19 shares during the last quarter. American Asset Management Inc. acquired a new position in shares of Symantec Corporation during the first quarter valued at $207,000. Finally, Yakira Capital Management Inc. acquired a new position in shares of Symantec Corporation during the first quarter valued at $217,000. Institutional investors own 94.05% of the company’s stock.
Symantec Corporation (NASDAQ:SYMC) traded down 3.63% during mid-day trading on Friday, hitting $29.17. The stock had a trading volume of 10,692,839 shares. Symantec Corporation has a one year low of $20.47 and a one year high of $33.22. The company has a 50 day moving average price of $29.53 and a 200 day moving average price of $29.72. The stock’s market cap is $17.76 billion.
Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. On average, equities analysts anticipate that Symantec Corporation will post $1.80 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st will be given a dividend of $0.075 per share. The ex-dividend date is Thursday, August 17th. This represents a $0.30 annualized dividend and a dividend yield of 1.03%. Symantec Corporation’s payout ratio is -49.18%.
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Several research analysts recently weighed in on SYMC shares. Goldman Sachs Group Inc reiterated a “buy” rating and issued a $36.00 price objective on shares of Symantec Corporation in a research report on Friday, June 9th. Standpoint Research upgraded Symantec Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Zacks Investment Research upgraded Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Tuesday, July 11th. BidaskClub upgraded Symantec Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Barclays PLC set a $32.00 price target on Symantec Corporation and gave the stock a “hold” rating in a research report on Monday, April 10th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $31.00.
In other news, CFO Nicholas R. Noviello sold 27,741 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $32.45, for a total transaction of $900,195.45. Following the transaction, the chief financial officer now owns 184,928 shares of the company’s stock, valued at $6,000,913.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott C. Taylor sold 13,000 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $32.45, for a total transaction of $421,850.00. Following the sale, the executive vice president now owns 237,030 shares in the company, valued at approximately $7,691,623.50. The disclosure for this sale can be found here. Insiders have sold 188,943 shares of company stock worth $5,766,330 in the last ninety days. Corporate insiders own 0.76% of the company’s stock.
Symantec Corporation Company Profile
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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